Market Closes - March 30, 2016

CBOT futures closed lower to sharply lower (wheat, corn) as traders locked in profits ahead of tomorrow’s key USDA reports. Futures headed lower when trade opened at 830 am and just kept dropping and finished near the day’s lows. Also pressuring wheat futures was the extended forecast for rain in the southern Plains. A big jump in ethanol inventories weighed on corn futures.

Lean Hog futures closed much lower even as the pork market strengthened. FOB Plant Pork closed up 1.27 at 77.59, which is higher than 76.84 at midday. Hogs were pressured by the huge losses in the cattle market.